BSM 200 Lecture Notes - Lecture 21: Formal System, Product Market, Retained Earnings

89 views4 pages

Document Summary

Think about business in different stages because : The market continues to change > reaching diff demographics. > suppliers, gov"t, investors, larger firms (who want ur business) There is a former disengagement in the second step where the owner decides if they want to grow their business or sell it. What do companies like to think of itself in the growth phase: They like the growth phase: management is easy, innovative/ new. When you are in the growth phase you are being innovative. Relevance to the customers and to themselves. Networking < relevance to market + internal. If you aren"t being innovative you will be copied and if you are copied you won"t exist long. Rather, a company would want to constantly change/ redefine the market: reinvesting past profits. The growth phase allows companies to stay relevant in the market, they always want to stay in this phase not the mature phase.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents